Zacks Investment Research Downgrades Employers Holdings Inc (EIG) to Hold

Employers Holdings Inc (NYSE:EIG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “Employers Holdings, Inc. is a specialty provider of workers compensation insurance focused on select small businesses engaged in low to medium hazard industries. It markets its products through independent local, regional, and national agents and brokers, as well as through its strategic partnerships and alliances and relationships with national, regional, and local trade groups and associations. Employers Holdings, Inc. is headquartered in Reno, Nevada. “

Separately, ValuEngine raised shares of Employers Holdings from a “hold” rating to a “buy” rating in a report on Friday, June 2nd.

Shares of Employers Holdings (EIG) opened at 42.35 on Friday. The firm has a market capitalization of $1.37 billion, a P/E ratio of 12.91 and a beta of 1.11. Employers Holdings has a 52 week low of $27.01 and a 52 week high of $43.55. The firm’s 50-day moving average is $40.82 and its 200 day moving average is $38.56.

Employers Holdings (NYSE:EIG) last issued its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.06. Employers Holdings had a net margin of 13.72% and a return on equity of 9.83%. The company had revenue of $196.30 million during the quarter, compared to the consensus estimate of $190.17 million. Equities research analysts forecast that Employers Holdings will post $2.22 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Monday, May 8th. Employers Holdings’s dividend payout ratio is 18.35%.

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In related news, CEO Douglas D. Dirks sold 83,890 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $41.93, for a total transaction of $3,517,507.70. Following the completion of the transaction, the chief executive officer now directly owns 409,535 shares in the company, valued at approximately $17,171,802.55. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Stephen V. Festa sold 18,329 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $39.26, for a total transaction of $719,596.54. Following the transaction, the chief operating officer now owns 19,542 shares of the company’s stock, valued at $767,218.92. The disclosure for this sale can be found here. 4.00% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its position in Employers Holdings by 1.1% in the first quarter. State of Alaska Department of Revenue now owns 3,550 shares of the financial services provider’s stock worth $134,000 after buying an additional 40 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Employers Holdings by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the financial services provider’s stock worth $497,000 after buying an additional 200 shares in the last quarter. Legal & General Group Plc boosted its position in Employers Holdings by 0.4% in the first quarter. Legal & General Group Plc now owns 57,379 shares of the financial services provider’s stock worth $2,177,000 after buying an additional 225 shares in the last quarter. Arizona State Retirement System boosted its position in Employers Holdings by 1.8% in the first quarter. Arizona State Retirement System now owns 16,792 shares of the financial services provider’s stock worth $637,000 after buying an additional 300 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its position in Employers Holdings by 7.2% in the first quarter. Mason Street Advisors LLC now owns 7,517 shares of the financial services provider’s stock worth $285,000 after buying an additional 505 shares in the last quarter. Institutional investors and hedge funds own 78.39% of the company’s stock.

Employers Holdings Company Profile

Employers Holdings, Inc is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. It provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “EIG”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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